Legal & General Group Plc Makes New Investment in Marcus & Millichap, Inc. $MMI

Legal & General Group Plc bought a new stake in Marcus & Millichap, Inc. (NYSE:MMI) in the 2nd quarter, HoldingsChannel reports. The firm bought 52,497 shares of the real estate investment trust’s stock, valued at approximately $1,636,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Marcus & Millichap by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,952 shares of the real estate investment trust’s stock worth $481,000 after acquiring an additional 600 shares during the period. Intech Investment Management LLC grew its holdings in shares of Marcus & Millichap by 8.1% in the third quarter. Intech Investment Management LLC now owns 10,284 shares of the real estate investment trust’s stock valued at $302,000 after purchasing an additional 767 shares during the period. Principal Financial Group Inc. increased its position in Marcus & Millichap by 0.7% during the first quarter. Principal Financial Group Inc. now owns 115,747 shares of the real estate investment trust’s stock worth $3,078,000 after purchasing an additional 789 shares during the last quarter. Compass Financial Management LLC acquired a new stake in Marcus & Millichap during the second quarter worth about $25,000. Finally, GAMMA Investing LLC raised its stake in Marcus & Millichap by 27.0% during the second quarter. GAMMA Investing LLC now owns 4,634 shares of the real estate investment trust’s stock worth $144,000 after purchasing an additional 984 shares during the period. 62.78% of the stock is owned by institutional investors and hedge funds.

Marcus & Millichap Trading Down 0.1%

NYSE MMI opened at $31.87 on Monday. The stock has a market cap of $1.21 billion, a PE ratio of 86.14 and a beta of 1.23. Marcus & Millichap, Inc. has a twelve month low of $24.43 and a twelve month high of $33.62. The stock has a fifty day simple moving average of $31.38 and a 200-day simple moving average of $29.03.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings data on Thursday, August 6th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.07. The firm had revenue of $202.91 million for the quarter, compared to analyst estimates of $194.30 million. Marcus & Millichap had a net margin of 1.77% and a return on equity of 2.97%.

Marcus & Millichap Announces Dividend

The business also recently declared a dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 15th. This represents a dividend yield of 163.0%. Marcus & Millichap’s dividend payout ratio (DPR) is currently 135.14%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of Marcus & Millichap from a “sell (d)” rating to a “hold (c-)” rating in a report on Friday, August 21st. Wall Street Zen downgraded shares of Marcus & Millichap from a “strong-buy” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $28.00.

About Marcus & Millichap

Marcus & Millichap (NYSE: MMI) is a leading commercial real estate brokerage firm focused on investment sales, financing, research and advisory services. Founded in 1971 by George M. Marcus and William A. Millichap, the company has grown to specialize in the marketing of multifamily, retail, office, industrial, hospitality and other commercial property types. Through an extensive network of investment specialists, Marcus & Millichap connects property owners and investors with tailored transactions across a range of asset classes.

The firm offers comprehensive capital markets solutions, including debt and equity placement, structured finance, and customized financing programs.